Celltrion Group Chairman Seo Jung-jin met with overseas investors and institutional stakeholders to present the blueprint for the group's merger and future vision.

Seo attended the 21st Morgan Stanley Global Healthcare Conference in New York City, U.S., on Sep. 11 (local time), and shared the group's growth direction through a Q&A session with Asia Pacific Healthcare Investment Banking Senior Advisor Laura Howard.

The Morgan Stanley Global Healthcare Conference, organized by global investment banking firm Morgan Stanley, brings together promising biotech companies from around the world and matches them with global institutional investors. This year's event will be held from Monday to Wednesday.

"We believe that now is the right time for the merger, as the stock price is undervalued ahead of the full-scale growth of sales from next year," Seo said. "The merger of Celltrion and Celltrion Healthcare will show the results that we have been preparing for."

Celltrion Group plans to have a total of 22 products by 2030, beyond its six commercialized products - Remsima, Truxima, Herzuma, Remsima SC, Yuflyma, and Vegzelma, Seo added.

Notably, Seo stressed with the expected expansion of the global market and sales of Zympentra (the U.S. product name for Remsima SC), which is expected to be approved as a new drug in the U.S. in October, earnings before interest, taxes, depreciation, and amortization (EBITDA) in 2024 is expected to reach about 1.6 trillion won ($1.2 billion).

Chairman Seo, who returned to lead the company in March amid the global recession, said he plans to travel around the world, including the U.S., Singapore, and Canada, to expand sales and focus all his efforts on the front lines, aiming to achieve EBITDA of 7 trillion won as soon as possible.

Merger just a small event in the growth of Celltrion Group

During the Q&A session, Chairman Seo also unveiled his plan to actively pursue the creation of a healthcare fund and telemedicine business that can contribute to solving the problem of the global aging population.

"I hope to build a healthcare fund with investment partners, contribute to people living healthy, and leave a meaningful legacy in the future," Seo said. "By promoting the telemedicine business, we will contribute to overcoming the limitations of medical infrastructure by creating an environment where those who need it can receive face-to-face care and those with lesser symptoms can receive non-face-to-face care."

However, to revitalize telemedicine, related companies need to work with governments to create an environment where massive medical data can be learned with artificial intelligence (AI) and medical examination data can be shared with medical staff at home, Seo added.

Seo stressed that the merger of the Celltrion Group's subsidiaries is just a small event in the growth of Celltrion Group and that the group will finalize the merger to significantly increase sales and profits in a short period, while actively contributing to solving the ultimate challenge of human health.